India's 'Business King' Ratan Tata Retires

Bangalore: As Ratan Tata steps down as chairman of India's largest industrial house, he leaves behind for his successor at Bombay House, Cyrus Mistry, not just a $100-billion empire he helped grow 13-fold in the 21 years at its helm but also a legacy that earned him wide praise as an able corporate leader with values.

“Cyrus Mistry will take over from me. You have given me a tremendous feeling of reward and satisfaction. We are leaving behind healthy company for the new chairman.” said Tata at the AGM as quoted by Hindustan Times.

Cyrus Pallonji Mistry, 43, was the Director of Tata Sons and Tata Elxsi, India. His family is the single major share holder of Tata group after Tata’s retirement.

Mistry will be the sixth chairman of Tata Group in its history of 144 years and only second one who does not carry the "Tata" surname. Other people who held the position of chairman of the Tata Group, apart from Ratan Tata were Jamsetji Nusserwanji Tata, Sir Dorab Tata, Sir Nowroji Saklatwala and J.R.D. Tata.

However few economists feel that toughest challenge for Cyrus will be to safely sail the company through the economic slowdowns in many countries out of the 80 countries in which the Tata group is operating, states Business Line. But as of now Ratan Tata will be associated with Cyrus for a year to provide him with economic exposure and operation of the company.

Mistry said that he will completely disassociate himself from his family business Shapoorji Pallonji & Company to avoid any kind of conflict of interest.

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Ratan Tata steps down and he leaves behind a $100-billion empire he helped grow 13-fold in the 21 years at its helm but also a legacy that earned him wide praise as an able corporate leader with values.

Rattan will not only be remembered as a collector or wealth but should be remembered for his lack of managerial expertise in how to use his wealth for the benefit of his countrymen. It is a disgrace that one man controls $100b while millions of his countrymen are without the basic necessities of daily life.

Nothing to be proud of.

This comment will apply to all the other very rich who are more interested in accumulating but have little expertise to use it for the benefit of those in need, in India and other countries worldwide.

Tata Groups and Industries have help a lot many people by giving work. This is how economy of the country will grow. If we gives Money to people its would help only for time being but rather if he use the money for more Industries that more people will be employed and country status will raise.

Ratan Tata is really a honest Business Man who focused on benefit for country growth